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Home»AI in Business»Analyst predicts strong growth ahead
AI in Business

Analyst predicts strong growth ahead

November 20, 2024004 Mins Read
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We recently published a list of 15 Trending AI Stocks on Latest News and Notes. In this article, we’ll take a look at where International Business Machines Corporation (NYSE:IBM) ranks against other trending AI stocks on the latest news and notes.

According to Anthropic CEO Dario Amodei, artificial intelligence models capable of operating on a human scale could emerge as early as 2026, if current progress continues. Amodei compares the journey to artificial general intelligence with educational stages. Currently, he notes that we are starting to get to the doctoral level, whereas last year we were at the undergraduate level.

ALSO READ: 10 AI News Making Waves Today And 10 AI Stocks to Watch in the Latest News and Analyst Ratings.

“Just looking at the rate at which these capabilities are increasing, it makes us think we’ll get there by 2026 or 2027.”

He also acknowledged that possible setbacks could exist, such as data shortages, limitations in scaling AI clusters, and potential geopolitical issues impacting microchip supply chains. Previously, Sam Altman, CEO of OpenAI, made a similar statement, emphasizing that artificial general intelligence could be achieved in five years with current hardware. According to Altman, the benchmark would result in “surprisingly little” change for the company.

How quickly we can get to AGI is a debate in itself. In the meantime, let’s take a closer look at the latest developments and innovations shaping the world of artificial intelligence. In the first case, a robot was trained by watching videos of experienced surgeons, skillfully performing the same surgical procedures as human doctors. The findings, led by researchers at Johns Hopkins University, were highlighted at the Robot Learning Conference in Munich, a major event in the field of robotics and machine learning.

“It’s really magical to have this model and all we do is feed it the camera data and it can predict the robotic movements needed for the surgery. We believe this marks a significant step forward towards a new frontier in medical robotics. »

Separately, CNBC’s David Faber reports that Elon Musk’s artificial intelligence company, xAI, is raising up to $6 billion at a valuation of $50 billion. Musk’s AI startup seeks to “understand the true nature of the universe.” Last year, xAI launched a chatbot called Grok, modeled after the “Hitchhiker’s Guide to the Galaxy.” The chatbot aims to compete directly with companies including ChatGPT creator OpenAI.

For this article, we selected AI stocks by looking through news articles, stock analyses, and press releases. These stocks are also popular among hedge funds.

Why are we interested in stocks that hedge funds are piling into? The reason is simple: our research has shown that we can outperform the market by imitating the stocks selected by the best hedge funds. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

International Business Machines Corporation (IBM) AI and Cloud Strategy: Analyst Predicts Strong Growth Ahead
International Business Machines Corporation (IBM) AI and Cloud Strategy: Analyst Predicts Strong Growth Ahead

Close-up of a woman’s hands typing quickly on a laptop in a corporate office.

Market capitalization: $189.54

International Business Machines Corporation (NYSE:IBM) is a multinational technology company and a leading global provider of hybrid cloud and AI and consulting expertise.

On November 13, Evercore ISI rated International Business Machines Corporation (NYSE: IBM) as “outperform” with a price target of $240. According to the analyst, the technology company can beat growth estimates thanks to tailwinds from enterprise AI, software sector dynamics and consulting recovery. Additionally, a less restrictive regulatory environment could increase merger and acquisition activity.

Overall, IBM ranks 6th on our list of trending AI stocks on the latest news and notes. While we recognize the potential of IBM as an investment, our conviction lies in the belief that certain AI stocks hold more promise in terms of higher returns and in a shorter time frame. If you’re looking for an AI stock that’s more promising than IBM but is trading at less than 5x earnings, check out our report on cheapest AI stock.

READ NEXT: 8 Best Wide Fluke Stocks to Buy Now And 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article was originally published on Initiated Monkey.

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